Pictet Asset Management SA cut its stake in shares of Chindata Group Holdings Limited (NASDAQ:CD – Get Rating) by 86.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,700 shares of the company’s stock after selling 109,900 shares during the quarter. Pictet Asset Management SA’s holdings in Chindata Group were worth $137,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. increased its holdings in Chindata Group by 116.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,709 shares of the company’s stock worth $42,000 after buying an additional 3,616 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in Chindata Group in the 1st quarter worth about $66,000. Beaumont Financial Partners LLC bought a new stake in Chindata Group in the 1st quarter worth about $84,000. Cetera Investment Advisers bought a new stake in Chindata Group in the 1st quarter worth about $110,000. Finally, Oppenheimer & Co. Inc. bought a new stake in Chindata Group in the 1st quarter worth about $114,000. 22.71% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts recently commented on CD shares. Citigroup reduced their price objective on Chindata Group from $9.30 to $8.90 in a report on Wednesday. TheStreet downgraded Chindata Group from a “c-” rating to a “d+” rating in a report on Friday, October 28th.
Chindata Group Trading Up 4.7 %
Chindata Group (NASDAQ:CD – Get Rating) last announced its earnings results on Thursday, August 25th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.02. The business had revenue of $154.98 million for the quarter, compared to analysts’ expectations of $151.90 million. Chindata Group had a return on equity of 6.17% and a net margin of 16.32%. Analysts expect that Chindata Group Holdings Limited will post 0.25 EPS for the current year.
Chindata Group Company Profile
Chindata Group Holdings Limited provides carrier-neutral hyper scale data center solutions in China, India, Malaysia, and Southeast Asia. It offers artificial intelligence, cloud computing, smart cities and homes, online entertainment, and other on-demand services. The company also provides internet data center colocation and rental services; and technical and consulting services.
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